Common use of Place and procedure of acceptance Clause in Contracts

Place and procedure of acceptance. Acceptance of each Leased Item by the Lessee shall be carried out at the appropriate Place of Transfer simultaneously with the transfer of each Leased Item to the Lessor by the Seller under the corresponding purchase and sale agreement for the Leased Item. All actions for the transfer of each Leased Item from the relevant Seller to the Lessor and from the Lessor to the Lessee in lease are executed each time by one Acceptance Certificate, which is signed by representatives of the Parties and the relevant Seller. The exception is the cases of acceptance in accordance with the procedure established by clause 4.5 of these General Terms and Conditions, which is confirmed by a unilateral certificate of the Lessor on default acceptance. Subject to the receipt of a corresponding power of attorney from the Lessor, the relevant Seller or its duly authorized representative may act as a representative of the Lessor during acceptance of the Leased Item by the Lessee. In this case, a bilateral Acceptance Certificate signed by the relevant Seller and the Lessee also simultaneously indicates the transfer of the relevant Leased Item into the Lessor’s ownership and at the same time to the Lessee in lease.